Time Wage Payment

Under this system, wages are paid on the basis of time spent on the job irrespective of the amount of work done.

Time may – Day, a Week, a fortnight, or a month.

Indirect labor is taken into account for the payment of salaries in the form of a time rate (monthly basis). These days even the manual workers are paid salaries who are employed in the factories.

Think-

• Features
• Advantages
• Disadvantages
• Suitability